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By Sam Boughedda
Investing.com — Avaya Holdings Corp (NYSE:) shares strengthened 22% Monday after it reported higher than anticipated fourth-quarter outcomes.
The U.S. know-how agency introduced earnings per share of 77 cents on income of $760 million. Analysts polled by Investing.com anticipated EPS of 72 cents on income of $740.87 million.
Jim Chirico, president and CEO of Avaya, wasupbeat in his feedback:
“Fiscal 12 months 2021 for Avaya was a 12 months marked by many firsts, and the excellent outcomes we delivered exceeded expectations on most each entrance. Most spectacular is the truth that we reversed over a decade of annual income declines, delivering 12 months over 12 months progress closing up roughly $100 million, whereas we additionally grew ARR 177% to $530 million.”
Trying forward, the corporate mentioned it sees FY2022 income at $2.975 billion to $3.025 billion, with EPS for the interval coming in at f $2.85 to $3.03. Focusing even additional sooner or later, the corporate expects income progress within the low to mid-single-digit p.c vary year-over-year in fiscal 2023 and within the mid-to high-single-digit p.c vary year-over-year in fiscal 2024.
Earlier this month, Cowen analysts lowered the worth goal on Avaya shares to $33 from $40, whereas holding an outperform ranking, saying margin stress will persist longer than anticipated. Avaya shares are buying and selling close to $21.88.
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